I’ve never heard a cover by anyone that does it as good as Bob’s original. Even Hendrix’s All Along the Watchtower, though good, is damn near a completely different song.
Many cover Dylan. Few add anything of substance.
Except for Jimi’s “All Along The Watchtower” :)
While I like U2’s and Guns N Roses’ take on “Knockin’ on Heaven’s Door”, only Dylan’s original can properly serve the score for Slim Picken’s dying scene in “Pat Garrett & Billy the Kid”.